Marina District Deal Sealed (Cleveland, Toledo: hotel, new house, buyer)

[Johio83]

City Council has backed down from their position, and hopefully it isn't too late. They were demanding two stipulations be put into the deed that have never been asked of anyone in this town. A) any work done at any point on the property has to be union labor. B) if significant work (51% completion) hasn't been done within 2 years, the city gets to buy the property back ($3.8M purchase price plus whatever amount of the $200M planned has been completed) for $2M. So if they've only put in $90M after two years, Toledo can have it for $2M. Take a look at the deals we give other developers: interest free loans, multiple tax free years, etc. When we finally have someone coming to the table who wants to spend their own money and not rely soley on public funding, we screw them.
And one of the city councilmen said something about requiring this because they're "protecting the Toledo tax payer." How is preventing $200M from being invested in my city helping me? That's $200M that won't be pumped into our local economy. That's a $200M entertainment spot that won't be bringing in any money now. That's a vacant strip of land that has sat unused for generations, and will apparently continue to do so. How can Toledo claim to be even remotely pro-business when it does things like this?

[Johio83]

Originally Posted by Tobias C

Mayor Bell blames City Council and Toledoans

He blames City Council, but I haven't seen him blame any Toledoans. From the response I've heard, I think most Toledoans agree with the Mayor on this one. I just can't help but think "you don't look a gift horse in the mouth" on this one. When somebody says "hey, I'd like to spend $200M of my own money in your city," you say "thank you, when can you start?"

[Tobias C]

Originally Posted by Johio83

When somebody says "hey, I'd like to spend $200M of my own money in your city," you say "thank you, when can you start?"

When someone says "I'd like to spend my 200 dollars on your precious downtown riverfront property" I say, "Splendid we have this really great master plan for that property that befits Toledo in the best way possible, please adhere to it and we will support you 100%.

Sorry. I still am angry that the city doesn't seek out developers of the highest standard who will use this land in the most efficient and progressive way possible. I do not want a lifestyle center on the riverfront in East Toledo.

I want a Marina District, not a Marina Mall.

[Johio83]

I agree with you, but there's gotta be flexibility. If we were Chicago, we could say "here's what we'd like to see, now go do it," but we're not. Beggars can't be choosers, and the people who want to put serious amounts of money at risk in our city are few and far between. We may have a general goal for what we'd like to see downtown, but the long and short of it is that they're the ones with the money. In a city like Chicago, they can hold out for the next developer to come along and build what the city is looking for. In Toledo, it's been 15 years or more since this project started, and nothing has happened.

[Johio83]

It's like grocery stores. I've been trying to push a grocer to open in downtown, but for the most part, they don't even want to entertain the possibility. Everyone knows it's a necessary step for downtown's growth, but everyone also knows that downtown Toledo is a big risk.

[acealive1]

this is toledo we speak of. they think the way they do things is second to none and if they havent done it before, then no one has. case in the point that marvelous bridge carty wanted so bad, u know......the one that took 5 years to build and cost 5 lives....... learn from bigger cities and see how they do certain things and they'll be ok. look no further than cosi closing here.

[czb2004]

City council keeps Marina District sale on agenda | 13abc.com (http://abclocal.go.com/wtvg/story?section=news/local&id=8082553 - broken link)

Looks like a deal could still be struck! I like what JOhio said, "beggars can't be choosers." We cannot afford to be choosey with our high unemployment rate and should be glad that this opportunity has presented itself.

[lasvegasfanforever]

The only thing is Toledo is not very friendly I rather spend my 3million some place else the next buyer will do the same thing it does it matter it's never going to happen.

[Johio83]

Originally Posted by lasvegasfanforever

The only thing is Toledo is not very friendly I rather spend my 3million some place else the next buyer will do the same thing it does it matter it's never going to happen.

Unfortunately, you're probably right. Between the local government and the public utility monopolies, Toledo is a very unattractive place for a business to... well, to do business. Took Edison three weeks to come look at a place I was working on, and when the guy got there he realized he'd mapped out the wrong block. "This isn't my area, I'll have to make a call," he says, and it was another few weeks before the correct guy made it out. After we got it all squared away, they said it would be 10 days max to complete the hookup. It ended up being five weeks. In all, it took just over three months for them to do something that required two days of actual work.

That's a big reason why I just have to laugh when the city tries pinning the build-speed clause onto the deed. All they'd have to do is drag their feet (along with the utilities companies, from whom their are no alternatives) to make sure the development doesn't reach the required level of completion by the time the mandated two years is up, and poof! The city can have it back!

[lasvegasfanforever]

I don't think people are lining up to buy that land and dashing group will tell people don't do buiness in Toledo it's going to effect other buyers know no one will want the land I think it's an eye sore.Again in Vegas they just build and go big and no red tape crap take ten years to get around it like in Toledo,They just do it here in Vegas since I lived here there's all ways building something new and different Toledo will be left behind just saying.Again I hear what's goes on in Toledo not coming back any time soon.